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Colombians move to top family spot on stock exchange

THEY are one of South America’s wealthiest dynasties, enjoying a jet-set lifestyle with homes in Paris and New York and their own private island. Now they have become the wealthiest family on the London stock market.

The family in question are the Santo Domingos, who last week sold their majority-owned Colombian-based beer company, Empresarial Bavaria, to SAB Miller. The family is taking the proceeds in shares and will end up controlling a 15.1% stake in SAB.

At SAB’s closing share price of 989p, this values the Santo Domingo stake at £2.2 billion — eclipsing the wealth of the Sainsbury family, who now move into second place.

In their home country, the Santo Domingos are household names. Patriarch Julio Mario has one son from his first marriage, Julio Mario Jr, and two from his second marriage — Alejandro, 28, who is being groomed to take over the business, and Andres, who lives in